Registering A Company

Hi guys! I think we all know by now that a lot has changed in the HYIP industry over the last year. In fact a lot has changed in the last week. For one thing, I am no longer writing to you as just another internet blogger. No sir. I’ve become a Very Important Person you see. I am no longer Paul Abramson, blogger. I’m now Paul Abramson, Company Director! Because money-news-online is now a registered business entity in the UK and I have all the documents to prove it.

The idea first occurred to me some time back. Many of you may remember I decided to to check out the addresses of certain HYIPs that were claiming to be operating from offices in London. You can refresh your memory and read about that by clicking here, but suffice to say it was an eye-opening experience. I got a lot of positive reaction to the article from readers so I decided to look a bit further into how one acquires an office in order provide an address for a business that essentially doesn’t really exist in anything other than name and to make that virtual business a legally registered company. Why exactly it took me until December to do it is another story, but now that I have I’m only sorry I didn’t do it earlier. In fact the whole thing was so easy I’m actually struggling to put the words together to describe how I did it.

But the next time you see an online HYIP that tells you they are a registered company then I’d like you to refer back to this page and see first of all how easy it is and secondly how utterly meaningless it is. Meaningless with regard to the security of your money at least. Because I have just appointed myself as director of a company that I created and registered myself. I have as I already said all the legal documents, but nobody in authority has asked me to verify my identity. I’ll have to do that later but I’ve still managed to obtain a legal Certificate of Incorporation without having to prove a thing. In fact I never even had to get off the couch. The entire deal took place online and the hardest thing I had to do was go downstairs and collect the mail when the postman arrived with the hard copy of that certificate. It really is that easy.

You can see the certificate here. My company number is 07113984 and you can enter that in the government’s own companies house website to check it out for yourself. But somebody else did all the work. There are a number of companies on the net offering such services and after a quick search on Google I selected one pretty much at random. The most important thing any of them will ask you anyway is to pay, and once you do that then they will do the rest for you. I’d say it took me no more than ten minutes to register some personal details and set some security questions so that they know they are dealing with the real me should I ever need to speak to them. They asked me the nature of the business though for some reason they neglected to mention this on the official companies house website. For want of a better word I told them it was “advertising” but come to think of it I could have told them it was “space exploration” for all they’d have cared.

Anyway, 24 hours after I paid I received an electronic copy of my certificate to my e-mail inbox. Another 24 hours later and a uniformed officer of Her Majesty’s government (the mailman!) arrived with the actual physical hard copy. I think I’ll have it framed and put it next to the certificate I received as a qualified Whiskey Taster that I got from the Jameson Distillery when I spent the weekend in Dublin last year. That one was actually more difficult to obtain! That’s not the only thing I got from them however. I also received a thing called a “memorandum of association” which is a fairly lengthy document outlining various rights, obligations, and responsibilities that I am subject to while managing the company. I haven’t really had the time to study it too closely, but it’s not really all that relevant to what I’m talking about here. And the main point I want to get across is that anybody can register their own company and not be asked for any kind of proof of identity or any kind of proof of address before doing so. They can go ahead and ask all the questions they want now, it’s too late and I’ve already got my certificate.

Something else I’ve been provided with is an address. Somebody else’s address that is. In getting Money-News-Online registered I opted for a slightly more expensive premium service that now permits me to use an actual serviced office as my own. You can see it yourself again on the link to the Companies House website. For those of you who know London “my” office is on Finchley Road in north London. It’s quite close to Hamstead Heath and I’m actually familiar with the street as I used to spend a bit of time up there during the summer. I can assure you though, I have never once set foot inside that building and am unlikely to ever do so. I must admit I am kinda curious about what would happen if I phone them on Monday morning and ask to speak to myself. Might be very amusing! I had been thinking about going up there earlier and taking a photo but it’s pretty cold today and I found a picture online anyway. Anyone who’s really interested can just put the address into Google Street View and see it.

If you wish to call and visit personally then you are free to do so. But you won’t find me there. You might find somebody who has heard of Money-News-Online, but I can assure you that you won’t find anybody there that will give you my real address. That’s confidential and will require a court order. I mean it’s not a secret that I live in Fulham but just don’t expect anybody in that office to tell you that.

And there you have it. That’s all it takes to legally register your very own company. And if I can do it this easily under UK and European Union law with so few questions being asked, then imagine how easy it is in let’s say Panama or Belize. No disrespect to those countries but I doubt the laws are strict about these things as they are here. And remember that the whole deal took place online. Meaning I did not necessarily have to be physically in the UK in order to register my company here.

So do yourself and your wallet a big favor and remember this the next time you see an online HYIP that tells you they are a legally registered business entity, in the UK or elsewhere, and give you an actual address where supposedly you will find them. Sure, it demonstrates that the admin is a bit more serious than most and it is an additional expense that they will want to recoup, but you can do it in ten minutes and for a cost of under $50. I paid a little extra because I wanted to show you how easy it also is to get a fictional address. Well ok, the address isn’t fictional. The address is real but you’re not going to find me there if you call.

And what’s more, the Certificate of Incorporation is nothing more than an A4 size sheet of paper, sold to anyone who has the money with no background checks whatsoever. So why then does everybody take them so seriously? It tells you nothing about the company you are investing with and guarantees even less. You need a license to carry out any finance related business anyway, and a Certificate of Incorporation is not that. Ever wonder why so many HYIPs will give you a link so you can see their details at Companies House, but nobody ever gives a link to the website of the Financial Services Authority register? Or ever even mentions them? You certainly won’t find Money-News-Online there – I have no right to ask you to allow me to invest your money on your behalf. That is because anybody can register a company, but not everybody has the right to start soliciting money from you in return for profit.

Just remember what I said the last time I looked into the addresses of a couple of HYIPs that claimed to be in London. Nothing is ever as it appears in this business. Take this as a warning if you like. Nothing illegal takes place in the act of registering a company by itself but it is done, usually but not always, with the intention of misleading you. It’s much easier to convince you that it’s a great idea to hand over thousands of dollars to a complete stranger because they have the appearance of being somehow professional and legitimate. But always remember that the appearance of careful management is more likely the careful management of appearances!

Now, as my first official act as a company director I think I’ll hire a secretary, no, better make that a personal assistant to go make me a coffee. While I get busy giving myself a raise.